North Korea might adopt cryptocurrencies to evade US Sanctions, report

Thursday 27 September 2018 00:57 CET | News

It seems that North Korea could start adopting cryptocurrencies to evade US sanctions, according to the Asia Times.

Reportedly, this was stated by two experts from Washington, Lourdes Miransda, a Financial Crime Investigator and Ross Delston, an attorney specializing in Anti-Money Laundering and Combating the Financing of Terrorism, according to AMB Crypto.

The Washington-based analysts believe that North Korea can also create their own digital wallet services which can be used to trade and store cryptocurrencies in the European digital wallets or any other nations, which are not imposed by the US sanctions.

Moreover, the experts believe that the capital of North Korea could also be developing their own cryptocurrency. With their own digital currency, North Korea will be able to create accounts online with the disguise of a “non-adversarial nation” using anonymous communication to conceal the user’s locations and usage on the internet, the experts continued.

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Keywords: North Korea, cryptocurrency, Bitcoin, US sanctions, AML, terrorist financing
Countries: World